Republic of Belarus: Staff Report for the 2004 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 141

Publication date: May 2004

ISBN: 9781451805130

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , Sta data ROSC mission , time series price indices , energy debt , authority , GDP performance , budget performance , broad money , Monetary base , Currencies , Europe , Baltics

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Summary

This 2004 Article IV Consultation highlights that macroeconomic developments in Belarus in 2003 were mixed. Although in real terms GDP, industrial production, and agriculture all grew by 6.8 percent; according to official data prepared on Belarusian national methodology growth, would be lower on international methodology. Fiscal policy was fairly tight during 2003, mainly owing to limited sources of available financing, such as privatization proceeds. The outlook for 2004 is uncertain. Under current policies, inflation is expected to reach about 22 percent, and real GDP growth is likely to slow to about 4¾ percent.